This analysis provides a comprehensive overview of the Alger International Opportunities Fund's Class A share performance for the third quarter of 2025. It delves into the specific elements that shaped the fund's returns, highlighting both the successes and challenges encountered during the period.
Navigating Global Markets: A Quarterly Investment Briefing
Evaluating the Fund's Investment Trajectory in Q3 2025
During the third quarter of 2025, the Alger International Opportunities Fund's Class A shares experienced a period of underperformance when measured against its benchmark, the MSCI ACWI ex USA Index. This deviation indicates that the fund's growth was less robust compared to the broader international market during these three months.
The Impact of Individual Stock Choices on Fund Returns
A significant contributor to the fund's relative underperformance was the selection of individual equities. Decisions regarding specific stock holdings within the portfolio did not yield the desired positive returns, thereby hindering the fund's overall standing against its comparative index.
Factor Exposures: A Positive Force in a Challenging Quarter
Despite the headwinds from stock picking, the fund's exposure to various market factors provided a beneficial influence on its performance. These factor exposures, which can include elements like value, growth, or momentum, helped to mitigate some of the negative impacts from other areas of the portfolio.
Geographical Contributions to Quarterly Performance
From a geographical perspective, certain countries played a pivotal role in shaping the fund's relative returns. The Netherlands, Belgium, and Spain were notable for their positive contributions, indicating strong performance from investments in these regions. Conversely, Japan, the United Kingdom, and China emerged as the primary detractors, suggesting that holdings in these markets weighed down the fund's overall results during the quarter.
